In this 30 minute webinar Gary Simon, FSN’s Chief Executive and Leader of the Modern Finance Forum on LinkedIn discusses the deeper meaning of the research (“Future of Planning, Budgeting and Forecasting“)” and the lessons that it holds for finance professionals with Tim Wakeford, who has held many positions as a finance leader in industry and is now part of the visionary team behind the development of Workday financials in the cloud.
FSN’s survey, the “Future of Planning, Budgeting and Forecasting” (PBF) 2017 found that while 70% of organizations say that their forecasting process is “respected”, “inclusive” and “strategic” only 40% say they are insightful! In other words, huge effort is expended in the PBF process yet, in the majority of cases (60%), it fails to support management’s decision-making with the insights it needs to improve performance.
So, the obvious question is what makes the forecasting process insightful? Usefully FSN’s research shines a light on the characteristics of insightful organizations and reveals what technologies they deploy in support of this goal.